Arista Networks, Inc. (NYSE:ANET) had its target price increased by UBS Group AG (USA) from $165.00 to $200.00 in a report released on Friday morning. UBS Group AG (USA) currently has a neutral rating on the technology company’s stock.
A number of other equities analysts have also recently weighed in on the stock. Cowen and Company reissued a buy rating and set a $200.00 price target on shares of Arista Networks in a research report on Friday. Citigroup Inc. reissued a buy rating and set a $220.00 price target (up from $215.00) on shares of Arista Networks in a research report on Friday. Jefferies Group LLC lifted their price target on shares of Arista Networks from $145.00 to $180.00 and gave the stock a hold rating in a research report on Friday. Nomura lifted their price target on shares of Arista Networks from $173.00 to $185.00 and gave the stock a neutral rating in a research report on Friday. Finally, BMO Capital Markets lifted their price target on shares of Arista Networks from $190.00 to $205.00 and gave the stock a market perform rating in a research report on Friday. They noted that the move was a valuation call. Fifteen research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Arista Networks has an average rating of Buy and a consensus target price of $180.21.
Shares of Arista Networks (NYSE ANET) traded up $4.23 during mid-day trading on Friday, reaching $201.49. 3,205,081 shares of the company’s stock were exchanged, compared to its average volume of 638,355. Arista Networks has a 1 year low of $79.05 and a 1 year high of $202.15. The company has a market capitalization of $14,614.07, a PE ratio of 48.44, a PEG ratio of 2.56 and a beta of 1.31. The company has a current ratio of 3.19, a quick ratio of 2.60 and a debt-to-equity ratio of 0.03.
Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Thursday, August 3rd. The technology company reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.15. The firm had revenue of $405.21 million for the quarter, compared to analysts’ expectations of $361.02 million. Arista Networks had a net margin of 25.10% and a return on equity of 26.23%. The business’s revenue for the quarter was up 50.8% on a year-over-year basis. During the same period last year, the firm earned $0.74 earnings per share. analysts forecast that Arista Networks will post 4.08 EPS for the current year.
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In other news, SVP Marc Taxay sold 2,000 shares of the business’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $176.09, for a total transaction of $352,180.00. Following the transaction, the senior vice president now directly owns 13,002 shares in the company, valued at approximately $2,289,522.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Kenneth Duda sold 8,827 shares of the business’s stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $168.06, for a total transaction of $1,483,465.62. Following the transaction, the senior vice president now owns 1,202 shares in the company, valued at $202,008.12. The disclosure for this sale can be found here. Insiders have sold a total of 198,778 shares of company stock worth $34,901,741 over the last 90 days. 28.09% of the stock is owned by company insiders.
Several hedge funds have recently made changes to their positions in ANET. BlackRock Inc. boosted its holdings in shares of Arista Networks by 34,238.9% during the 1st quarter. BlackRock Inc. now owns 1,684,322 shares of the technology company’s stock worth $222,784,000 after buying an additional 1,679,417 shares during the period. Harbour Capital Advisors LLC boosted its holdings in shares of Arista Networks by 13,502.2% during the 2nd quarter. Harbour Capital Advisors LLC now owns 1,228,278 shares of the technology company’s stock worth $8,200,000 after buying an additional 1,219,248 shares during the period. Koch Industries Inc. bought a new stake in shares of Arista Networks during the 2nd quarter worth about $592,000. State Street Corp boosted its holdings in shares of Arista Networks by 44.7% during the 2nd quarter. State Street Corp now owns 1,063,294 shares of the technology company’s stock worth $159,278,000 after buying an additional 328,534 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in shares of Arista Networks by 7.1% during the 2nd quarter. Vanguard Group Inc. now owns 3,763,999 shares of the technology company’s stock worth $563,810,000 after buying an additional 249,753 shares during the period. 59.38% of the stock is owned by institutional investors and hedge funds.
Arista Networks Company Profile
Arista Networks, Inc is a supplier of cloud networking solutions that use software innovations to address the needs of Internet companies, cloud service providers and data centers for enterprise support. It develops, markets and sells cloud networking solutions, which consist of its Gigabit Ethernet switches and related software.
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